Some real estate agents are pushing clients away from offers supported by some government-backed mortgage products, industry members say.

According to the order, Chicago-based Federal Savings Bank sent millions of advertisements, telling consumers that they had “available funds” and should contact the bank; the ads were actually for a VA cash-out refi.

Bayview handled a $436.71 billion Ginnie portfolio as of the end of March, up 1.5% from the end of 2025.

On average, loan-to-value ratios and debt-to-income ratios are much higher for GSE purchase mortgages with private MI compared with loans that don’t carry MI.

The main difference in 2026 was that later-stage delinquencies increased.

Ginnie posted a 1.3% quarterly gain in servicing outstanding to $2.726 trillion at the end of March, not including servicing of home-equity conversion mortgages.

The refi share of Ginnie issuance increased to 43.9% in the first quarter of 2026, the highest since the second quarter of 2021.

The correspondent channel accounted for 38.0% of government-insured originations in 2025, up from a 34.5% share in 2024.

The Mortgage Bankers Association urged VA to adopt lender-generated documentation and bulk invoicing because loan-specific invoices are often not available.